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Dynamix Corporation III completed its initial public offering, raising $201.25 million through the sale of 20,125,000 units priced at $10.00 each, according to a company statement. The offering included 2,625,000 additional units from the full exercise of underwriters’ over-allotment option.
The company’s units began trading October 30 on the Nasdaq Global Market under ticker symbol "DNMXU" (DNMXU). Each unit comprises one Class A ordinary share and one-half of one redeemable warrant. The warrants allow holders to purchase Class A ordinary shares at $11.50 per share.
The Class A ordinary shares and warrants will trade separately on Nasdaq under symbols "DNMX" and "DNMXW" once separate trading begins. The company placed $201.25 million from the offering proceeds into a trust account.
Dynamix Corporation III operates as a special purpose acquisition company incorporated in the Cayman Islands. The company seeks to complete a business combination with companies in the energy, power and digital infrastructure sectors.
Cohen & Company Capital Markets served as sole book-running manager for the offering, while Clear Street LLC acted as co-manager. The Securities and Exchange Commission declared the registration statement effective October 29.
The company is led by Chief Executive Officer and Chairman Andrea Bernatova, Chief Financial Officer Nader Daylami, and Executive Vice President of M&A and Strategy Philip Rajan.